Lufthansa Suspends Venezuela Flights

Airbus A340-600 of Lufthansa on Climbing Phase

Lufthansa to temporarily suspend flights to Venezuela as next month due to economic difficulties in the South American nation and conversion issues local currency into dollars.

International airlines have for years fought to repatriate billions of dollars in revenue held in the local currency Bolivar, due to exchange controls, which led many to limit service and require passengers to pay the dollar rates.

"We deeply regret that for these reasons, we will have to suspend our service between Caracas and Frankfurt from June 18," the company wrote in a statement, noting that the demand for international flights to Caracas fell in 2015 and the first quarter 2016. Lufthansa has no plans to close its office in Caracas, anyway.

After a loss of two years in oil prices, OPEC nation in South America is struggling with a deep recession and the highest rate of inflation in the world, which has foreign travel beyond the reach of most its citizens.

In other hand, American Airlines in last March said it was dropping a direct flight between Caracas and recently reincorporated New York due to very low demand.